Archean Chemical IPO: Bat-bat of those who invested in this IPO, before listing, there was a blast on the gray market

IPO: This share is trading in the gray market with a premium of Rs.85. It is being speculated that Archean Chemical's IPO may have a fancy listing.

Rakesh Bishnoi Desk | Updated:  Nov 14, 2022, 05:37 PM IST

Gray Market Price: If you have also invested in Archean Chemical Industries Ltd. IPO, then this news will make you happy. Archean Chemical's IPO was open from November 9 to 11. The eyes of those who put money in it are now fixed on the allotment of its shares.

Good news for those who bet on the IPO,
it is expected that the company will allot shares to the people investing in the IPO on November 16, 2022. There is good news on the gray market for those betting on this IPO. The stock is trading in the gray market with a premium of Rs 85. It is being speculated that Archean Chemical's IPO may have a fancy listing.

There is a possibility of 20 percent growth from the price band
. The price band of Archean Chemical's IPO is Rs.407. If the rally of Rs 85 continues on the gray market, then this share can be listed at (407+85) = Rs 492. This simply means that the stock is likely to gain 20 percent from the price band of the IPO. Let us tell you that the price band of this IPO was from Rs 386 to Rs 407.

What is GMP
The GMP of Archean Chemical IPO is Rs 85 per share as per experts tracking the gray market. It is climbing continuously. Experts expect that those investing in this IPO can get good returns. The gray market is looking bullish on the Archean Chemical IPO.